Allowing Private Property Owners to Purchase HDB's 2-room Flexi Flats for Owner Occupation without Need to Dispose of Private Property

29 Mr Lim Biow Chuan asked the Minister for National Development whether HDB will allow owners of private property to purchase HDB's 2-room flexi flats strictly for owner occupation and without the need to dispose of their private property.

Mr Lawrence Wong: New Housing and Development Board (HDB) flats are heavily subsidised. With finite resources, the Government has to prioritise such housing for those who need them more, such as first-time homebuyers and households who cannot afford private housing.

Private property owners are, therefore, generally not eligible to buy new HDB flats. Nonetheless, to facilitate housing monetisation, we allow elderly private property owners aged 55 and above to buy new 2-room flexi flats on shorter leases of between 15 and 45 years. They will have to dispose of their private property within six months of taking possession of the flat.